Saturday, July 13, 2024

Every Pakistani is in Debt of Rs. 2.16 Lac After Huge increase in Country’s Debt

Pakistan’s debt burden has increased to a staggering amount.During the first 10 months of the current government, the total debt of the federal government has reached Rs. 54,942 billion, according to details presented in the National Assembly.

The increase in Pakistan’s debt burden is a major concern for the country’s economic stability. With every citizen now indebted to Rs. 2.16 lakh, it is imperative that the government takes steps to reduce the debt burden and prevent further escalation.

One of the key reasons for the increase in debt is the fiscal deficit, which is the difference between government expenditure and revenue. The fiscal deficit has been a persistent issue in Pakistan’s economy and has led to an increase in borrowing to cover the shortfall. The government needs to focus on reducing the fiscal deficit through effective fiscal management and revenue generation.

Another reason for the increase in debt is the lack of investment in the economy. The low levels of investment have resulted in slow economic growth, which has affected the government’s revenue generation. The government needs to take measures to attract foreign and domestic investment in the economy to spur growth and increase revenue.

It is also important for citizens to play their part in reducing the debt burden. This can be done by practicing financial discipline, reducing unnecessary expenses, and contributing to the economy through investments and business ventures. By working together, the government and citizens can address the issue of debt burden and ensure the country’s economic stability.

In conclusion, Pakistan’s debt burden has reached an alarming level, with every citizen now indebted to Rs. 2.16 lakh. It is crucial that the government and citizens work together to address this issue and ensure the country’s economic stability.

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